Biden programs have made investments in EV sector ‘take flight’

A new survey shows Americans are hesitant to go all-in on electric vehicles. EVPassport Co-Founder and CEO Hooman Shahidi joins Asking for a Trend to discuss growth in the EV market.

EVPassport is an electric vehicle charging platform that focuses on infrastructure. Shahidi explains that “the opportunity is incredibly vast” for the company in the current EV market as the demand for chargers increases.

As for the industry as a whole, Shahidi is bullish on the electric vehicle trend. He explains, “At the end of the day, people realize the economic value. And also the programs set by the administration have done a great job to be a tailwind in getting us to go there. And it has allowed for investments in the space to really take flight.” He adds, “The labor market is ripe for opportunity … We have over 200 certified EV passport partners within our network, and a lot of them are leveraging new programs with trade schools to be able to support the ongoing demand.”

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Melanie Riehl

Video Transcript

Biden administration’s electric vehicle push is hitting some speed bumps.

New survey shows Americans are hesitant to go all in on electric.

In a recent survey, only 21% of adults said they were very or extremely likely to buy an EV for their next vehicle with charging time availability and vehicle range among top concerns for would be buyers.

Joining me now, Uman Shahidi, co founder and CEO of charging infrastructure company, EV Passport Huma is good to see you.

Maybe you start um you know, listen, you’re an EV hardware software company but for viewers who, who may not be as as familiar.

Um Man, just explain a little bit about the company its mission.

What’s the problem you’re trying to solve for what’s demand been like.

You bet.

Thanks for having me.

So EV Passport, we’re electric vehicle charging platform that focuses on infrastructure as a service.

So we’re a turnkey solution that handles the end to end uh value proposition for asset holders across the board and the diversity of our customers has never been greater.

We operate in Canada and Mexico but also across 35 states uh and have uh most recently in last year raised a $200 million to support that growth.

And um when you, when you look at your, your market, what, what do you think kind of growth looks like, you know, over the next 135 years, how do you model it?

The opportunity is incredibly vast and we could not be more exhilarated by what’s ahead of us.

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In fact, the recent news uh with Tesla is obviously sad when you know, when people lose their jobs.

But it, you know, it ignites the opportunity for us and we fundamentally don’t believe in, you know, uh competitive landscapes.

We believe that there’s an opportunity for us to go and chase that wallet chair.

And it’s an opportunity for us to talk about our platform, which is really focused around the software customers approach, leveraging an open API and also carrying out the mission of what the Biden administration has done.

Uh because this critical infrastructure is super important to the infrastructure of tomorrow.

And Huma I I do want to get your kind of just broader pulse check on the EV market.

You know, we, we referenced that at the top here just I mean, it is growing Humam but it’s just not growing as it’s not growing as fast as it once did.

Why do you, why do you think that is Hum and what do you think jumpstarts that?

I actually do think it’s growing fast?

I mean, Ford just recently last week announced that 65% of the new cars sold were either plug in hybrid or electric vehicles.

So I think the trend is bullish.

It’s sometimes the headlines are funny because people see the output.

Uh infrastructure is a lot like an iceberg.

It takes a long while for it uh to, to move and get to where it needs to go.

But at the end of the day, people realize the economic value and also the the program set by the administration have done a great job to be a tailwind in getting us to go there.

And it has allowed for investments in this space to really take light.

And um man, you know, we do have an election coming up.

It sounds like you’re, you know, you’re pretty happy with this administration if there was a change in administration, Umana, if there was a change in the White House, how would that affect your business?

Well, we’ve built a business that’s focused on reliability, security and a pathway to profitability, right?

I mean, the number one stakeholder for us as our customers.

And at the end of the day, it’s critical for us to maintain uh customer success.

It’s the lifeblood of how we’re going to grow and grow.

Uh But either way we think the tail winds supported by the administration are helpful for business and allow for ev adoption to accelerate, uh you know, more than a, you know, a potential change in uh at 1600 Pennsylvania, get you out of here on this.

Um I am curious as you kind of build out this infrastructure.

Can you find enough workers who on, can you find enough electricians right now to do the job?

That is a, a consistent challenge, but it’s also an opportunity, right?

I mean, you know, now more than ever there’s uh you know, investments going towards trades and other areas where we’re going to build the master electricians, electricians of tomorrow and they’re going to make good money too as well.

So, the labor market I is ripe for opportunity in that regard.

Um And we have amazing partners.

We have over 200 certified ev passport partners within our network.

Um And, and a lot of them are leveraging new programs with trade schools uh to be able to support uh the ongoing demand hum on.

Thank you so much for joining the show today.

Super interesting conversation.

We’re gonna keep having it.

Thank you.

All right.

Thanks for having me.